Causes of Great Depression
Storyboard Text
- Overproduction- Industry
- We produced to much and know we can't sell, I'm going broke?
- Overproduction- Farming
- I made to much and now can't sell my crops. Were going to lose our house?
- Speculation
- I have a feeling the bank is going to close can I have my money?
- Since the Stock Market Crash on black Tuesday we can't sell product, and many Americans aren't buying are stuff. The industry crashed and many people couldn't afford their properties, homes or even food.
- Buying on Margin
- I can't repay my loans what am I going to do? I have to sell my house
- After WW1, farmers had a lot of crops than the demand of the U.S. Additionally, the crop prices declined, which resulted in them being unable to repay their debt.
- Shaky Banking
- If we keep passing out money, we'll close down. Please just wait?
- Many Americans demanded their money back and most banks never thought of a solution to the situation they got put in. Thousands of banks had to start giving the peoples money back then they shut down.
- Restrictions on International Trade
- Were not going trade with you because you won't give us supplies. Sorry that's sad?
- Were not trading to you because your not giving us supplies? hope your economy fails. Were not trading to you because your not giving us supplies? hope your economy fails. Were not trading to you because your not giving us supplies? hope your economy fails.
- Buying on margin helped bring about the Great Depression because it helped to cause Black Tuesday when the stock market crashed.
- Another phenomenon that compounded the nation's economic woes during the Great Depression was a wave of banking panics or “bank runs,”.
- During the Great Depression, America embraced a policy of protectionism, using trade restrictions to try and strengthen American products with legislation like the Smoot-Hawley Tariff Act of 1930.
Over 30 Million Storyboards Created